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     BEIJING (MNI) - The yuan was stronger against the U.S. dollar on Monday
after the People's Bank of China set the fixing rate much stronger for the day.
     The yuan was last at 6.5608 against the U.S. unit after opening at 6.5745,
compared with the official closing price of 6.5687 on Friday.
     The PBOC set the yuan central parity rate at 6.5683, 0.21% stronger than
Friday's 6.5821.
     Money market rates were lower Monday morning. The seven-day repo average
was last at 2.7361%, compared with Friday's average of 2.7649%. The overnight
repo average was at 2.5398%, compared with Friday's 2.5447%.
     The PBOC drained a net CNY120 billion in liquidity after skipping
open-market operations.
     The yield on benchmark 10-year China government bonds was unchanged from
Friday at 3.8700%.
     Stocks fell, with the textile and aircraft manufacturing sectors leading
gains. The benchmark Shanghai Composite Index was last down 0.30% at 3,287.17.
Hong Kong's stock exchange was closed for the Christmas holiday.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]